Top News

1. Meme Coin LABUBU, inspired by the Bubble Mart pop culture IP, saw its market cap surge past $45 million this morning, hitting a new all-time high.

2. Whale James Wynn's Bitcoin long positions' floating loss has expanded to $7.5 million, with PEPE longs seeing a $280k floating loss.

3. Bitfinex Report: Bitcoin enters a healthy consolidation phase, with short-term holders taking profits or triggering selling pressure.

4. Circle denies rumors of seeking sale to Coinbase or Ripple.

5. Cetus releases a report on the theft incident, commits to advancing an LP compensation plan and enhancing security audits.

Articles & Threads

1. "SlowMist: Analysis of the Cetus Theft Incident, with 1 Token Leveraging $230 Million"

The SUI ecosystem liquidity protocol, Cetus, was hacked, with a loss exceeding $230 million. The attacker manipulated the token price through flash loans and exploited a smart contract vulnerability, stealing a massive sum with just 1 token. The project team promptly patched the vulnerability and, in collaboration with the SUI Foundation, froze some of the stolen assets. SlowMist's security team traced that the hacker moved funds across chains, with some yet to be transferred. This event underscores the importance of smart contract security audits.

2. "Which Companies Globally 'Added to Their Bags' of Bitcoin in May?"

In May 2025, the narrative of Bitcoin as "digital gold" continued to gain momentum, with numerous global companies announcing purchases or plans to purchase Bitcoin. They sought to hedge against inflation, boost valuation, or reshape their financial strategies through this decentralized asset. From a health tech company in Sweden to a textile giant in China, and to a fintech enterprise in Indonesia, these new players entered the Bitcoin market through diverse funding methods, showcasing the penetration of crypto assets into traditional industries.

Market Data

Daily Marketwide Funding Heatmap (reflected by Funding Rate) and Token Unlocks

Data Source: Coinglass, TokenUnlocks

Funding Rate

Token Unlocks

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